GAMCO Expects to Report Diluted EPS for the Third Quarter 2022 of $0.33 to $0.38 Per Share

Rhea-AI Summary

GAMCO Investors, Inc. (NYSE: GBL) has announced its expected diluted earnings for Q3 2022, projected between $0.33 and $0.38 per share, down from $1.09 for Q3 2021. As of September 30, 2022, GAMCO's assets under management stood at $27.6 billion, a decrease from $28.7 billion as of June 30, 2022. Further financial details will be disclosed in early November.

GREENWICH, Conn.--(BUSINESS WIRE)-- GAMCO Investors, Inc. (“GAMCO”) (NYSE: GBL) announced today that it expects to report third quarter 2022 diluted earnings in the range of $0.33 to $0.38 per share versus $1.09 per share for the third quarter of 2021.

Assets under management were $27.6 billion at September 30, 2022 as compared to $28.7 billion at June 30, 2022.

GAMCO will be issuing further details on its financial results in early November.

About GAMCO Investors, Inc.

GAMCO is known for its research-driven approach to equity investing. GAMCO conducts its investment advisory business principally through two subsidiaries: GAMCO Asset Management Inc. (approximately 1,400 institutional and private wealth separate accounts) and Gabelli Funds, LLC (24 open-end funds, 14 closed-end funds, 4 actively managed semi-transparent ETFs, and a SICAV). GAMCO serves a broad client base including institutions, intermediaries, offshore investors, private wealth, and direct retail investors.

GAMCO offers a wide range of solutions for clients across Value and Growth Equity, ESG, Convertibles, actively managed semi-transparent ETFs, sector-focused strategies including Gold and Utilities, Merger Arbitrage, and Fixed Income. In 1977, GAMCO started its flagship All Cap Value strategy, Gabelli Value, and in 1986 launched its mutual fund business.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The financial results set forth in this press release are preliminary. Our disclosure and analysis in this press release, which do not present historical information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy, the effects of the Tax Cuts and Jobs Act, and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that could cause our actual results to differ from our expectations include risks associated with the duration and scope of the ongoing coronavirus pandemic resulting in volatile market conditions, a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, a general downturn in the economy that negatively impacts our operations, and the ongoing impacts of the Tax Cuts and Jobs Act with respect to tax rates and the non-deductibility of certain portions of NEO compensation. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Form 10-K and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004006096/en/

Kieran Caterina

SVP, Chief Accounting Officer

(914) 921-5149



For further information please visit

www.gabelli.com

Source: GAMCO Investors, Inc.

FAQ

What are GAMCO Investors' expected earnings for Q3 2022?

GAMCO Investors expects diluted earnings between $0.33 and $0.38 per share for Q3 2022.

What were GAMCO's assets under management on September 30, 2022?

GAMCO's assets under management were $27.6 billion on September 30, 2022.

When will GAMCO release its full financial results for Q3 2022?

GAMCO will release its full financial results in early November 2022.

How do GAMCO's Q3 2022 earnings compare to Q3 2021?

GAMCO's expected earnings for Q3 2022 are down from $1.09 per share reported in Q3 2021.

What investment strategies does GAMCO offer?

GAMCO offers a range of strategies including Value and Growth Equity, ESG, and Fixed Income.